News overnight in US10 billion , a rise from 6 billion MC....

News overnight in US
10 billion , a rise from 6 billion MC. Accelerated approval given in 2022 . This drug treats platinum resistant ovarian cancer.
H,mm perhaps IMU is looking like it could be worth a lot more than that, if trials go well.
Note in the last sentence, that it’s expected expansion over the next 5-10 years!
love the name “ImmunoGen”

AbbVie to Acquire ImmunoGen, including its Flagship Cancer Therapy ELAHERE® (mirvetuximab soravtansine-gynx), Expanding Solid Tumor PortfolioNovember 30, 2023 at 7:30 AM ESTPDF Version • Proposed acquisition will accelerate AbbVie's entry into the commercial market for ovarian cancer • ELAHERE® is a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer • ImmunoGen's late-stage development programs for ELAHERE provide opportunity to expand into earlier lines of therapy and additional patient populations • ImmunoGen's follow-on pipeline complements AbbVie's oncology portfolio, which has the potential to be transformative across multiple solid tumors and hematologic malignancies • Transaction valued at $31.26 per share in cash, for a total equity value of approximately $10.1 billion • AbbVie to hold an investor conference call at 8:00 a.m. CT

ELAHERE is a first-in-class ADC targeting folate receptor alpha (FRα) with a maytansinoid payload DM4, a potent tubulin inhibitor designed to kill the targeted cancer cells. ELAHERE received U.S. Food and Drug Administration (FDA) accelerated approval in 2022 for the treatment of adult patients with FRα positive, platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer, who have received one to three prior systemic treatment regimens. The positive Phase 3 results from the MIRASOL confirmatory trial will support a Marketing Authorization Application (MAA) to the European Union and a supplemental Biologic License Application (sBLA) submission to the U.S. FDA in order to gain full approval. Ongoing clinical development programs are underway to expand into earlier lines of therapy and enter other large patient segments of the ovarian market over the next 5-10 years.